During the past six years, rate premiums paid by shippers to railroads have skyrocketed by 90 percent, even as carload volume has fallen by 1.1 percent, according to a recently released report by Escalation Consultants.
The amount of freight carried by the domestic transportation industry fell in January for a second straight month, ending the period down 2.8 percent from December, according to the Department of Transportation. This is the first two-month decline measured since October 2012. The department’s Bureau of Transportation Statistics found that despite the […]
Cathay Pacific and Dragonair experienced a 2.4-percent decrease in February’s cargo activity, year over year, and a 4.4-percent decline in cargo revenue. For the month, cargo activity came in at 101,295 kilometers and revenue finished at 548,545 revenue-ton-kilometers. For the year, revenue is up by 0.3 percent, when compared to the same period […]
Allianz Global Corporate & Specialty reported a decline in shipping losses for 2013, with just 94 losses of ships of more than 100 gross tons worldwide, compared to 117 in 2012, with Asia seeing the highest number of total losses.
American Airlines officials are making significant progress toward the integration of American and US Airways, and cargo “will lead the way” in the process, according to Robert Isom, chief operating officer of American Airlines. Pushing cargo forward, he said, will mean connecting to new markets in Asia, Europe and South America with an […]
Cargo volume at The Port of Virginia increased 6 percent in February when compared to the same month last year, the port said Thursday, adding that it anticipates an increase in volume soon as the G6 alliance makes changes.
As the the second anniversary of the U.S.-Republic of Korea Free Trade Agreement (KORUS) nears, exports of U.S. manufactured goods to Korea have increased, and Koreans are buying more U.S. services than ever before, the White House said. KORUS, the White House said, has also improved South Korea’s investment environment through tougher provisions […]
COSCO Pacific said that through a strategic partnership with Hutchison Port Holdings Trust, it is acquiring a 40 percent interest in Asia Container Terminal Holdings (ACT) for $212.65 million. ACT operates Terminal 8 west at Kwai Chung in Hong Kong, adjacent to Terminal 8 east, the COSCO–HIT Terminal, another terminal that COSCO Pacific […]
Crowley said its Carib Energy subsidiary has been awarded a multi-year contract to supply containerized, U.S.-sourced liquefied natural gas (LNG) to its first industrial customer, Coca-Cola Puerto Rico Bottlers in Cayey, Puerto Rico, and its a sister company, the rum distillery Club Caribe in Cidra, Puerto Rico. Carib will supply and transport LNG […]
CMA CGM will begin calling the port of Buchanan in Liberia with its PC North service March 24, the company said. The French container carrier said it is the first shipping line to call the city, located 100 kilometers south of the capital, Monrovia, in 20 years. “This new call primarily responds […]
A shipping association chairman is warning that exporters of forest products in containers through the Port of Vancouver may move their cargo to other ports, switch to using breakbulk vessels or do both because of an ongoing strike.
The Port of New York and New Jersey is being severely impacted by a shortage of chassis needed to deliver and pick up containers at marine terminals, according to drayage companies and forwarders/custom house brokers.
Global air cargo demand growth is projected to hit 4 percent this year, a significant increase over the previously forecast 2.1-percent growth rate for 2014, according to IATA.
Hub Group has renamed its drayage subsidiary to Hub Group Trucking. The name change from Comtrak Logistics underlines the importance of trucking in Hub Group’s operations, according to a press release. “We are proud to have built a drayage company that qualifies among the Nation’s top 100 motor carriers,” Mark Yeager, Hub […]
Russian intermodal transport operator Ruscon has started a scheduled flexitank container service to Kazakhstan. In the first quarter of 2014, about 40 containers arrived from Italy at the port of Novorossiysk on the Black Sea, the company said. This number is expected to increase over the next few years. From Novorossiysk, the […]
TNT Express said Wednesday it would invest “tens of millions of euros” to increase productivity and efficiency at its hub in Liege, improving the facility’s sorting capacity by 50 percent, among other things. Installation of new sorting systems in the 75,000-square-foot space will begin later this year; work is expected to be completed […]
Evergreen Line is planning to terminate its vessel-sharing agreement on the ANS USEC-Caucedo-Brazil service in April, the company said Wednesday.
Ship Finance International Limited said Tuesday it will acquire two 5,800-TEU container ships built in 2001 and 2002 in combination with long-term charters. “The vessels are expected to be delivered to SFL over the course of the next few weeks, and the annual EBITDA contribution is estimated to be approximately $5.5 million on […]
Pilgrim Pipeline Holdings Inc. is proposing construction of a dual pipeline between Albany, N.Y., and northern New Jersey. One pipe would carry refined products such as gasoline, diesel, heating oil, and jet and aviation fuel north, while the other pipe would be used to move crude oil south from Albany to refineries and terminals […]
The ruling, which found that the FAA doesn’t have jurisdiction because the unmanned aerial vehicle didn’t fit the “aircraft” classification, could have implications for the regulation of commercial drone use.
